Savings Works: Creating an Opportunity for College
Monthly Newsletter                                                                                                                           April 25th, 2016
 
Savings Works
Savings Groups and Mutual Support for the Unbanked
Saving is a critical issue for all Americans, but it is especially important for those at the bottom of the economic pyramid. Nearly half of Americans lack sufficient liquid assets to live at the poverty level for three months, with these percentages reaching two thirds for minorities. To address this issue, the Carsey School of Public Policy of the University of New Hampshire is launching “Saving Works.” Saving Works will increase savings and mutual support as it targets the unbanked and under banked. Saving Works builds on the experiences of rotating savings circles already widely used in immigrant communities by layering onto this traditional model what has been learned about improving traditional ways of saving through training over half a million “mini-banks” in nearly 70 developing countries.

Saving Works has recently been launched in Delaware through $tand by Me that state’s innovative financial coaching program, and will be implemented through the Carsey School of Public Policy at the University of New Hampshire, one of the world’s leaders in community economic development and innovative models of group savings, with partners that work with immigrant communities.

Jeff Ashe is an advisor to Step Up Silicon Valley on the College Savings Circle Initiative. 

Jeffrey Ashe
Author and Research Fellow
Carsey School of Public Policy
University of New Hampshire

Click below to read the article on our blog and join the conversation about Savings Circles. 

Click here to learn more about the author and his work.
To purchase Jeffrey’s book, click here.















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Step Up Ignites College Savings Circles
The Silicon Valley Education Foundation in partnership with EARN and Step Up Silicon Valley is launching a pilot College Savings Circle program in East Side Alliance. The purpose of this pilot project is to support the goal of going to college for the mostly lower income communities of East San Jose. Savings Circle is an easy and self-empowering platform where parents and kids take charge and set their own goals in terms of timeframe and the amount they can afford to save for college. In this case, the minimum savings is $20/month.

Click below to learn more about the College Savings Circle Initiative.

    

        
     
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Affordable College Opportunity Resources
Opportunity Youth Partnership has put together a list of college resources that include Santa Clara County Community Colleges and Santa Clara County Career Technical Education, as well as resources for on-campus support.

These resources have been made accessible via PDFs you can download here:

To learn more about the Quick Glance Resource sheets, contact Erica DiPietro at edipietro@kidsincommon.org

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Microsavings Resources     
Opportunity Youth Fund: Part of their strategy assists in providing microsavings accounts to help students pay for college and to help families save for the future.

To learn more about their microsavings programs, click here: http://www.opportunityfund.org/learn/microsavings/


CFED makes it possible for millions of people to achieve financial security and contribute to an opportunity economy. They offer multiple programs such as Children’s savings accounts, Entrepreneurship, and individual development accounts.

To learn more about the various programs they offer, visit their website here: http://cfed.org/programs/

What It’s Worth: Strengthening the Financial Future of Families, Communities and The Nation

Americans everywhere struggle to build strong financial futures for themselves and their families. This new book, put together with the partnership of Federal Reserve Bank of SF and CFED provides more than 30 essays authored by experts from across a broad range of fields and demonstrates how those who work outside traditional financial capacity building sectors play a critical role in removing barriers to financial health and well-being. 
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Community Announcements
 
 
Wake Up to Aging: Aging, Caregiving

Date: May 19, 2016 Time: 5:30-7:30pm Location: St. Mary's Parish

For more information on how you can attend, call 408-831-0440

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Open Enrollment for Year Up September Classes

Year Up is now accepting applications for their September 2016 class!

Year Up is a free professional IT training program that educates young adults in hardware and software for five months in their downtown San Jose location. After their training, students begin internships in locations like Facebook, EBay, Google, and LinkedIn.

An educational stipend of $600 is provided for the first 5 months and $1000 for the next 6 months while in the internship. 

The only requirements are as follows:
- Young adult is 18-24
- Have a high school diploma or GE

Click below to apply for their September Class.

 
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Community Action Poverty Simulations

Experience 1 Month of Poverty in 2 Hours.

The Community Action Poverty Simulation (CAPS) immerses us in the harsh reality of a Silicon Valley that grows in disparity as much as prosperity.

If you would like more information on our Simulations, please contact Angela Silveira.

 
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1,000 Out of Poverty Meetings

Next meeting: Friday, May 20, 2016.

The 1,000 Out of Poverty team meets monthly to co-create community-based solutions that provide people access to jobs, healthcare, housing, food, and education.

Contact Angela Silveira to learn more about our initiative.  
  
Almaz Negash, Managing Director
anegash@stepupsv.org
(408) 325-5128
 
 




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